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USD/JPY drops to fresh daily lows

FXStreet (Córdoba) - USD/JPY fell sharply as the dollar weakened broadly during the New York session following a string of disappointing US data.

US housing starts slumped 11.4% in March, pulling back from a 7-year high, while a gauge of manufacturing activity by Markit and initial jobless claims came in below expectations. The dollar was initially resilient but then surrendered and fell to fresh lows versus most competitors.

USD/JPY technical levels

USD/JPY pulled back from the 120.00 area and hit a low of 119.58. At time of writing, the pair is trading at 119.65, 0.23% below its opening price. On the downside, immediate supports are seen at 119.58 (daily low) and 119.43 (100- & 200-hour SMA), while resistances could be found at 120.08 (daily high) and 120.83 (Apr 13 high).

DXY dips further, near 97.40

The greenback, in terms of the US Dollar Index, has intensified its intraday decline and is now challenging session troughs in the 97.40/35 band...
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CAD hinges on oil, USD and Fed – Scotiabank

In the view of Camilla Sutton, Chief FX Strategist at Scotiabank, the immediate drivers for the Canadian dollar remain the USD, the Fed and crude oil prices...
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